Establish a realistic budget from "summary" of Seven Steps to a Successful Business Plan by Al Coke
One of the most critical steps in developing a successful business plan is setting up a practical budget. This involves taking a comprehensive look at all the financial aspects of your business and determining how much money you will need to start and operate your venture. A realistic budget should be based on accurate estimates and projections, taking into account all potential expenses and revenues.
When establishing a budget, it is essential to be as detailed and thorough as possible. This means considering every possible cost that your business may incur, from rent and utilities to marketing and employee salaries. It is also crucial to conduct thorough research to ensure that your estimates are accurate and realistic.
One common mist...
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